Cognyte Software (NASDAQ:CGNT) Given “Hold” Rating at Needham & Company LLC

Cognyte Software (NASDAQ:CGNT)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

Separately, StockNews.com upgraded Cognyte Software from a “hold” rating to a “buy” rating in a report on Friday, April 4th.

Cognyte Software Trading Up 7.5 %

CGNT opened at $9.41 on Tuesday. The stock’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $8.33. Cognyte Software has a 1-year low of $6.21 and a 1-year high of $11.12. The stock has a market cap of $678.06 million, a PE ratio of -49.53 and a beta of 1.76.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $94.51 million during the quarter, compared to analysts’ expectations of $93.15 million. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. During the same quarter last year, the company posted ($0.23) EPS. Equities analysts forecast that Cognyte Software will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in Cognyte Software by 70.0% in the 4th quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares during the period. R Squared Ltd acquired a new stake in shares of Cognyte Software in the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its stake in shares of Cognyte Software by 1,695.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock valued at $36,000 after buying an additional 3,900 shares during the period. Quantbot Technologies LP bought a new stake in shares of Cognyte Software during the 4th quarter valued at $71,000. Finally, Jane Street Group LLC bought a new position in shares of Cognyte Software in the fourth quarter worth $112,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

About Cognyte Software

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.